Senators outline plan for new Medicare commission

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Two senators have proposed the creation of a 15-member, independent commission that would be charged with shaping legislation to preserve Medicare and Social Security.

Sens. Pete Domenici (R-NM) and Dianne Feinstein (D-CA) said the National Commission on Entitlement Solvency would make recommendations to Congress about the programs one year after the law's enactment and then every five years.

Keeping Medicare and Social Security solvent are significant problems for the future, Domenici said. More than half of federal spending, or $1.42 trillion, went to Social Security and Medicare, Feinstein said. Critics of the proposal were already at work Tuesday, claiming the commission would be too little too late – with recommendations too infrequent.